RENO, Nev. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mountain Lakes Estates, a 131-unit independent living community in Reno.
The property was built in 2020 and totals 120,316 square feet on approximately 5.2 acres of land.
The seller was a regional owner-operator located in the West. The buyer was a private equity company based in New York that specializes in active adult and independent living communities. The price was not disclosed.
Jason Punzel, Dave Balow, Vince Viverito and Brad Goodsell of SLIB handled the transaction.
“The community leased up quickly despite being opened during COVID,” says Punzel. “It is a testament to the quality of the construction and service provided by the owner-operator.”